Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Travelers Targets $140 Million of Cost Savings in Auto by 2015

Don't Miss Out —
Follow us on:

July 23 (Bloomberg) -- Travelers Cos., the lone property insurer in the Dow Jones Industrial Average, said it is targeting $140 million in annual cost reductions at an auto unit amid competition that is pressuring profit margins.

The plan is expected to be fully implemented in 2015 and will result in $16 million of costs, $10 million of which will count against earnings in the three months ending Sept. 30, the New York-based insurer said today in a regulatory filing.

To contact the reporter on this story: Noah Buhayar in New York at nbuhayar@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.